LG Chem

{{Infobox company

| name = LG Chem Ltd.

| logo = LG Chem logo (english).svg

| logo_caption = Logo used since 30 December 2014{{efn|The logo's symbol has been in use since 4 January 1995.{{citation needed|date=July 2024}}}}

| former_name = {{plainlist|

Lak Hui Chemical (1966-2009)
Lak Hui Chemical Industries (1966–1973)
Lucky Ltd. (1947–1995)}}

| type = Public

| traded_as = {{kse|051910}}
{{kse|051915}}

| foundation = {{start date and age|2009}}

| location = LG Twin Towers, 128, Yeoui-daero, Yeongdeungpo-gu {{cite web | url=https://www.lgchem.com/company/company-information/about | title=About Us | Company information | Company | LG Chem }}

| hq_location_city = Seoul

| hq_location_country = South Korea

| industry = Chemicals

| products = {{ubl|Raw materials|Chemicals|IT and electronics materials|Energy solutions}}

| revenue = {{profit}} KRW 51.865 trillion

(2022){{cite web | url=http://www.insideview.com/directory/lg-chem-ltd | title=LG Chem Ltd | publisher=InsideView | access-date=January 10, 2015 | url-status=dead | archive-url=https://archive.today/20130911174044/http://www.insideview.com/directory/lg-chem-ltd | archive-date=September 11, 2013 }}

| net_income = {{profit}} KRW 2.195 trillion (2022)

| owner = LG Corporation (33%)

| num_employees = 20,000+ (2022)

| parent =

| subsid = LG Energy Solution (81%)

| homepage = [https://www.lgchem.com/main/index LG Chem]

}}

LG Chem Ltd. (Korean: LG화학), often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. It was the 9th largest chemical company in the world by sales in 2021.{{cite web |url=https://cen.acs.org/business/finance/CENs-Global-Top-50-2022/100/i26 |title=C&EN's Global Top 50 chemical firms for 2022 |last=Tullo |first=Alexander H. |date=July 24, 2022 |website=Chemical & Engineering News |publisher=American Chemical Society |access-date=September 28, 2023 }} It was first established as the Lucky Chemical Industrial Corporation, which manufactured cosmetics. It is now solely a business-to-business company (consumer products division was spun off into LG Household & Health Care).

The company has eight factories in South Korea and a network of 29 business locations in 15 countries. This network includes a holding company in China, 14 overseas manufacturing subsidiaries, five marketing subsidiaries, seven representative offices, and two R&D centers.{{citation needed|date=April 2017}} The Financial Times reported on April 2, 2017, that LG Chem would be expanding battery production in China. At the time, China accounted for one-third of the company's total sales.{{cite news |last=Jung-a |first=Song |date=April 2, 2017 |title=LG Chem holds faith in China despite battery of obstacles |url=https://www.ft.com/content/f0d1e8de-16e4-11e7-a53d-df09f373be87 | work=Financial Times |access-date=April 3, 2017}} In April 2019, LG Chem sued rival SK Innovation for allegedly stealing trade secrets for manufacturing electric vehicle batteries.{{Cite web|url=https://electrek.co/2019/04/30/lg-chem-sues-sk-innovation-stealing-electric-car-battery-trade-secrets/|title=LG Chem sues SK Innovation over allegedly stealing electric car battery trade secrets|first=Fred|last=Lambert|date=April 30, 2019|website=Electrek}}

Business and product areas

= Current =

LG Chem has three main business areas:

Petrochemicals
Advanced materials
Life sciences

== Petrochemicals ==

LG Chem is a supplier of petrochemicals ranging from basic distillates to specialty polymers. For example, it is a large producer of common plastics such as acrylonitrile butadiene styrene (ABS),{{cite news | last=Maxey | first=Kyle | date=January 31, 2014 | title=LG Chem to Supply ABS to Stratasys | url=http://www.engineering.com/Library/ArticlesPage/tabid/85/ArticleID/6992/LG-Chem-to-Supply-ABS-to-Stratasys.aspx | work=Engineering.com | access-date=January 10, 2015}} styrene-acrylonitrile resin (SAN),{{cite web | url=http://www.lgchem.com/global/abs/abs-san-acrylonitrile-styrene | title=ABS/SAN | publisher=LG Chem | access-date=January 10, 2015 | archive-url=https://web.archive.org/web/20150119034904/http://www.lgchem.com/global/abs/abs-san-acrylonitrile-styrene | archive-date=January 19, 2015 | url-status=dead }} and polyvinyl chloride (PVC).{{cite web | url=http://www.lgchem.com/global/pvc/pvc-polyvinyl-chloride | title=PVC | publisher=LG Chem | access-date=January 10, 2015 | archive-url=https://web.archive.org/web/20150118002307/http://www.lgchem.com/global/pvc/pvc-polyvinyl-chloride | archive-date=January 18, 2015 | url-status=dead }} It also produces raw materials and liquids, including plasticizers, specialty additives, alcohols, polyolefins, acrylic acid, synthetic rubber, styrenics, performance polymers, engineering plastics, elastomers, conductive resins, and other chemicals.

== Advanced materials ==

LG Chem supplies display and optical films, polarizers, printed circuit materials, and toners. It also supplies LCD polarizers, which are multi-layer sheets of film applied to the top and bottom surfaces of TFT-LCD panels to transmit the light from the backlight unit through the panel, and 3D FPR (film-type patterned retarder) film, which enables three-dimensional viewing.

== Life sciences ==

LG Chem acquired AVEO Pharmaceuticals, a U.S. bio firm focused on renal cell carcinoma, for US$571 million in 2023.{{cite news |author= |date=January 19, 2023 |title=LG Chem completes acquisition of AVEO Pharmaceuticals |url=https://en.yna.co.kr/view/AEN20230119003200320 |work=Yonhap |location=Seoul |access-date=}}

= Former =

== Energy solutions ==

File:Bilbao 05 2012 Opel Ampera 2472.JPG

LG Chem completed development and began mass production of Korea's first lithium-ion batteries back in 1999. At the end of 2011, LG Chem was the world's third-largest maker with an annual production capacity of 1 billion cells.{{citation needed|date=September 2014}} It is also a supplier of automotive battery for electric vehicles, such as the Ford Focus, Chevrolet Volt and Renault ZOE.

LG Chem Michigan is a wholly owned subsidiary of LG Chem based in Holland, Michigan{{cite web | url=http://www.lgchem.com/global/lg-chem-company/global-network/america-manufacturing-subsidiary#tab_overseas | title=LG Chem — Overseas Sites — Americas — Manufacturing Plants | publisher=LG Chem | access-date=January 10, 2015 | archive-url=https://web.archive.org/web/20150111085259/http://www.lgchem.com/global/lg-chem-company/global-network/america-manufacturing-subsidiary#tab_overseas | archive-date=January 11, 2015 | url-status=dead }} which operates a plant to manufacture advanced battery cells for electric vehicles. The {{US$|303|link=yes}} million Holland plant received 50% of its funding from U.S. Department of Energy matching stimulus funds,{{cite web | url=http://www.greencarcongress.com/2010/11/lgchem-20101107.html | title=LG Chem to establish new electrolyte production plant in Michigan|publisher=Green Car Congress|date=2010-11-07|access-date=2011-05-19}} and started manufacturing battery systems in 2013.{{cite news | url=http://www.mlive.com/business/west-michigan/index.ssf/2013/11/behind_the_scenes_at_lg_chems.html | title=Behind the scenes at LG Chem's advanced battery plant in Holland: It's cleaner than clean | first=Jim | last=Harger | work=MLive | publisher=MLive Media Group | date=November 21, 2013 | access-date=January 10, 2015}} The plant can produce enough cells per year to build between 50,000 and 200,000 battery packs for electric cars and hybrids such as the Chevrolet Volt by General Motors,{{cite news | first=Soyoung | last=Kim | title=LG Chem to supply GM Volt batteries — sources | url=https://www.reuters.com/article/rbssChemicalsCommodity/idUSN2239779020081022?sp=trueh | newspaper=Reuters | date=2008-10-22 | access-date=2009-08-11}}{{cite web | title=BREAKING: LG Chem and Compact Power Inc. to Supply Volt Battery Packs | url=http://gm-volt.com/2008/10/22/breaking-lg-chem-and-compact-power-inc-to-supply | work=GM-Volt.com | date=2008-10-22 | access-date=2009-08-11 | archive-date=18 October 2019 | archive-url=https://web.archive.org/web/20191018022944/https://gm-volt.com/2008/10/22/breaking-lg-chem-and-compact-power-inc-to-supply-volt-battery-packs/ | url-status=dead }}{{cite web | first=Drew | last=Johnson | title=GM inks Chevrolet Volt battery contract | url=http://www.leftlanenews.com/gm-inks-chevrolet-volt-battery-contract.html | date=2008-10-24 | publisher=Leftlane | access-date=2009-08-11 | archive-date=22 September 2018 | archive-url=https://web.archive.org/web/20180922211641/https://www.leftlanenews.com/gm-inks-chevrolet-volt-battery-contract.html | url-status=dead }}{{cite news | title=Compact Power, Inc. Wins Lithium-Ion Battery Development Program For General Motors Hybrid Electric Vehicles | url=http://www.compactpower.com/Documents/cpi_gm_development_program.pdf | author=Compact Power Inc press release | date=2008-06-05 | access-date=2008-06-08 | url-status=dead | archive-url=https://web.archive.org/web/20080724083711/http://www.compactpower.com/Documents/cpi_gm_development_program.pdf | archive-date=2008-07-24 }}{{cite news | last=Voelcker| first=John | title=Battery Czar | pages=32–37 | work=IEEE Spectrum | date = August 2008 }} the Ford Focus Electric, and upcoming plug-in electric vehicles from other carmakers.{{cite web | url=http://electriccarsreport.com/2011/03/lg-chem-wins-gm-supplier-of-the-year-award/|title=LG Chem Wins GM Supplier of the Year Award|publisher=Electric Cars Report | date=2011-03-17 | access-date=2011-05-19}} Its research and development arm, called LG Chem Power, is based in nearby Troy, Michigan.{{cite web | url=http://www.lgchem.com/global/lg-chem-company/global-network/america-research-subsidiary#tab_overseas | title=LG Chem — Overseas Sites — Americas — R&D Centers | publisher=LG Chem | access-date=January 10, 2015 | archive-url=https://web.archive.org/web/20150111070729/http://www.lgchem.com/global/lg-chem-company/global-network/america-research-subsidiary#tab_overseas | archive-date=January 11, 2015 | url-status=dead }} LG Chem Power and LG Chem Michigan were originally one company called Compact Power, Inc.{{cite web | url=http://www.lgchem.com/upload/file/audit-report/2010_Q4_audit_en.pdf | title=Separate Financial Statements, December 31, 2010 and 2009 | publisher=LG Chem, Ltd. | page=19 | access-date=January 10, 2015}}

Both the Chevrolet Volt and the Ford Focus Electric initially used cells manufactured in Korea by parent LG Chem{{cite web | url=http://gm-volt.com/2009/01/12/its-official-gm-chooses-lg-chemcompact-power-inc-to-supply-chevy-volt-lithium-ion-battery-packs | title=GM Chooses LG Chem to Supply Chevy Volt's Lithium-ion Batteries and Will Build the Packs Themselves | date=January 12, 2009 | work=GM-Volt.com | access-date=20 May 2011 | archive-date=29 January 2019 | archive-url=https://web.archive.org/web/20190129181425/https://gm-volt.com/2009/01/12/its-official-gm-chooses-lg-chemcompact-power-inc-to-supply-chevy-volt-lithium-ion-battery-packs/ | url-status=dead }}{{cite press release | url=http://media.ford.com/article_display.cfm?article_id=32959 | title=Ford Selects Compact Power as Lithium-Ion Battery Pack Supplier for Ford Focus Electric on Sale in 2011 | publisher=Ford Motor Company | date=2010-07-13 | access-date=February 2, 2012 | url-status=dead | archive-url=https://archive.today/20120721060841/http://media.ford.com/article_display.cfm?article_id=32959 | archive-date=July 21, 2012 }} and then later switched to cells produced in LG Chem Michigan's Holland plant once it opened.

In September 2020, LG Chem unveiled its plan to publicly list its energy division under the name of LG Energy Solution by December.{{Cite web|last=Taylor|first=Michael|title=Critical Tesla EV Supplier LG Chem To Spin Off Battery Business|url=https://www.forbes.com/sites/michaeltaylor/2020/09/17/critical-tesla-ev-supplier-lg-chem-to-spin-off-battery-business/|access-date=2020-09-28|website=Forbes|language=en}}

LG Chem said on September 22, 2024 that it plans to supply cathode materials to Prime Planet Energy & Solutions Inc. (PPES), a Japanese battery joint venture established between Toyota Motor Corp. and Panasonic Corp.{{cite web |url=https://en.yna.co.kr/view/AEN20240922001500320?section=economy-finance/economy/|title=LG Chem to supply cathode materials to Japanese battery manufacturer PPES |date=2024|website=Yonhap News }}

October 27, 2024 LG Chem said Sunday it has opened its third overseas research and development center in Germany to develop environment-friendly, next-generation technologies.{{cite web |url=https://en.yna.co.kr/view/AEN20241027001000320 |title=LG Chem opens 3rd overseas R&D center in Germany

|date=2024|website=Yonhap News }}

Accidents and incidents

= Visakhapatnam gas leak =

On 7 May 2020, a gas leak incident that took place at the LG Polymer plant at Gopalapatnam on the outskirts of Visakhapatnam resulted in the death of 12 people, hospitalization of over 300 and around thousands falling sick. Nearly 3000 people were evacuated from villages in five-kilometre radius of the plant. The gas reportedly started leaking around 2:30{{Nbsp}}am when the workers were preparing to reopen the plant after the lockdown ordered due COVID-19 pandemic was relaxed in the region.{{Cite web|title=Visakhapatnam Gas Leak Live updates: At least 12 killed, 25 critical; CM Reddy announces Rs 1 crore each as relief to kin|url=https://indianexpress.com/article/india/visakhapatnam-gas-leak-live-updates-dead-injured-cm-jagan-mohan-reddy-pm-modi-6397962/|date=2020-05-07|website=The Indian Express|language=en-US|access-date=2020-05-07}}{{Cite web|title=Vizag gas leak live updates: Toll rises to 11, police file case against LG Polymers in Visakhapatnam|url=https://timesofindia.indiatimes.com/city/visakhapatnam/vizag-gas-leak-live-updates-arogyasri-to-cover-gas-leak-victims-treatment-cost-cm-jagan/liveblog/75591477.cms|website=The Times of India|language=en|access-date=2020-05-07}}

= Seosan plant explosion =

On 19 May 2020, an alkylaluminum-based catalyst powder exploded due to high-pressure while being transported at the packing room of the LG Chem plant at Seosan. The explosion exposed the pyrophoric powder to the air, causing a fire. As a result, a 39-year-old researcher died and two more workers suffered second-degree burns.{{cite news |title=Fire at LG Chem lab in Seosan kills 1, injures 2 |url=https://koreajoongangdaily.joins.com/2020/05/19/socialAffairs/LG-Chem-Seosan-explosion/20200519182600120.html |access-date=11 November 2020 |publisher=Korea JoongAng Daily |date=19 May 2020 |language=en}}{{cite news |title=(2nd LD) Fire at LG Chem lab kills 1, injures 2 |url=https://en.yna.co.kr/view/AEN20200519006352315 |access-date=11 November 2020 |work=Yonhap News Agency |date=19 May 2020 |language=en}}{{cite news |title=Fire at LG Chem lab kills 1, injures 2 |url=http://www.koreaherald.com/view.php?ud=20200519000883 |access-date=11 November 2020 |work=The Korea Herald |date=19 May 2020 |language=en}}